Coal news and updates

NCL allocates Rs 650-cr investment in HEMM for FY17

Northern Coalfields Ltd (NCL) has earmarked an investment of Rs 650 crore for procurement of heavy earth-moving machineries (HEMM) in 2016-17, according to information available with ICMW.

This is part of the Rs 1,363 crore total capital outlay earmarked by the Coal India (CIL) subsidiary under various heads, company sources said.

The outlay for HEMM in 2016-17 shows a significant increase over Rs 350 crore allocated under the same head in the current year (2015-16).

The other major heads for investment allocations in 2016-17 would be coal handling plants (Rs 263 crore), railway siding (Rs 216 crore) and land (Rs 115 crore).

Overall, the Rs 1,363 crore capital outlay planned for next year would show a sizeable increase from Rs 800 crore earmarked for the current fiscal.